ST. LOUIS -- While still trying to swing a trade for ace pitcher at Thursday's non-waiver trade deadline, the St. Louis Cardinals hedge their bet by acquiring Justin Masterson of the Cleveland Indians.

In return, the Indians received outfield prospect James Ramsey.

Yet, even with the arrival of Masterson, a high-ranking Cardinals' executive said the Cardinals still remain in the hunt for David Price of the Tampa Bay Rays or Jon Lester of the Boston Red Sox.

Masterson, a free agent at the season's conclusion, has been a huge disappointment for Cleveland this season, with a drop in velocity. He was their opening-day starter, but is, 4-6 with a 5.51 ERA.

He is currently on the DL with a sore right knee, but was scheduled to start Friday against the Texas Rangers. Now, he is scheduled to start Saturday for the Cardinals against the Milwaukee Brewers at Busch Stadium.

Masterson has been crushed by left-handers this season, yielding a .3300 batting average while right-handers are hitting .214.

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TRADE BREAKDOWN

The deal: The Indians trade RHP Justin Masterson to the Cardinals for minor-league OF James Ramsey.

Impact on Cardinals: A year ago, when Masterson was an All-Star and won 14 games, this might have been seen as the big move the Cardinals were looking to make. Now it's just a way to bolster a rotation weakened by injuries to Michael Wacha and Jaime Garcia. Masterson, who has battled knee problems through much of the season, has lost 2-3 mph off his fastball and carries a 4-6 record and 5.51 ERA. Masterson, 29, pitched out of the bullpen early in his career and could return to that role after Wacha comes back.

Impact on Indians: Cleveland is picking up a 24-year-old prospect who was buried under the collection of talented outfielders in the Cardinals system. Ramsey was St. Louis' first-round pick in the 2012 draft out of Florida State and was batting .300 with 13 homers and a .916 OPS at Class AA Springfield (Mo.). By trading Masterson, a will become a free agent after the season, Cleveland saves $3 million on his salary.

GALLERY: TRADE DEADLINE TRACKER

July 31: The Rays traded LHP David Price to the Tigers in a three-team trade with the Mariners. The Mariners received OF Austin Jackson; the Rays got LHP Drew Smyly, INF Nick Franklin and minor league INF Willy Adames. Jesse Johnson, USA TODAY Sports